Centre imposes sugar stock limits

24 Feb 2009 | 11:13 Centre imposes sugar stock limits
The Union Cabinet, which met on 23 February 2009, has decided to impose limits on the amount of sugar that can be stocked for four months from the notification date. Stock limits have been imposed due to rising prices of sugar.

Home Minister P Chidambaram said the notification is likely to be issued on Tuesday, 26 February 2009.

In the current year, there is a drop in sugar production and there is an indication of an increase in the prices of sugar, Chidambaram pointed out. Sugar future price is showing an uptrend right through September 2009, he added.

India's sugar production is projected to decline to 18 million tonnes this year, compared with about 26.4 million tonnes in 2007-08.

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